You may choose one of several repayment options for your Law School Loans Federal Consolidation Loan. The repayment term ranges from 10 to 30 years, depending on the total amount of your student loans.

Equal Payments
This option provides equal monthly payments over the term of the loan.

Select 2/Graduated Payments
This option allows for interest-only payments for the first 2 years of repayment. In the third year, payments increase to level installments of principal and interest payments for the remaining term of the loan.

Select 5/Graduated Payments
This option allows for interest-only payments for the first 2 years of repayment. In the third through fifth years, payments increase to include a portion of principal. In the sixth year, payments increase to level installments of principal and interest payments for the remaining term of the loan.

Income-Sensitive Payments
This option provides for payments to be adjusted annually, based on your expected total monthly gross income from employment and all other sources. For spousal consolidation loans, monthly payments are adjusted according to combined monthly incomes. Your account will initially be disbursed at the Select 2/Graduated repayment plan. After the consolidation loan is disbursed, you must contact your servicer to qualify. Once eligibility is determined, your servicer will calculate your new payment.

Extended Equal Payments
This option allows up to a 25-year repayment term of equal payments.

Extended Select 2 Payments:
This option allows up to a 25-year repayment term with the Select 2/Graduated Payment plan.

Extended Select 5 Payments:
This option allows up to a 25-year repayment term with the Select 5/Graduated Payment plan.

All Extended Repayment Plans are for qualified borrowers with more than $30,000 in eligible loans. Applicants interested in any of the Extended Repayment Plans should contact one of our counselors to determine eligibility.

The Legal Career Resources column is presented by LawCrossing, America's leading legal job search site dedicated to getting jobs for legal professionals.

On April 3 Senator Edward M. Kennedy (D-MA) introduced legislation that would make sweeping changes to federal financial aid. The bill, given the short name ''Strengthening Student Aid for All Act,'' is intended to ensure students have sufficient access to financial aid, in the forms of both grants and loans.

My private loans had a 11.5% interest rate and I had called EdFed to see what they can do for me. The loan officer that I was working with started an application for me and ran my credit to see what my interest rate would be and its actually 8.6% I was so excited I faxed them my application that same day. Thank you for your help. - Kathryn B. Atlanta, GA

Your Federal Benefits

Consolidating through Law School Loans lowers your monthly payments by as much as 60%. You may extend your loan term from 12 to 30 years depending on your consolidation balance.

A deferment is a temporary suspension of loan payments for specific situations such as re-enrollment in school, unemployment, or economic hardship.

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